Consolidated balance sheet
Consolidated profit and loss account
Consolidated statement of comprehensive income
Condensed consolidated statement of changes in shareholders’ equity
Consolidated statement of cash flows
1 Corporate information
FMO was incorporated in 1970 as a public limited company and is located at Anna van Saksenlaan 71, The Hague, The Netherlands. FMO finances activities in developing countries to stimulate private sector development.
2 Basis of preparation and changes to accounting policies
The consolidated annual accounts as at December 31, 2017 are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU).
3 Risk developments
For a detailed overview of FMO’s risk governance and risk management approach we refer to the section ‘Risk Management of FMO’s consolidated annual accounts as at December 31,2017.
4 Capital management
FMO complies with the Basel III requirements and reports its Common Equity Tier 1 ratio to the Dutch central bank on a quarterly basis. At the end of June 2018 the Common Equity Tier 1 ratio increased to 25.8% from 24.6% as per December 2017.
5 Segment information
The Management Board sets performance targets, approves and monitors the budgets prepared by the front office servicing units. These shall therefore perform in accordance with the strategy and targets.